Money owed by the federal government is called the:

Money owed by the federal government is called the
A) trade surplus
B) balance of payments
C) national debt
D) current account

Question 2

Which type of bank is responsible for a country's monetary policy?
A) a commercial bank
B) a central bank
C) a mutual savings bank
D) an export-import bank

Question 3

If more currency flows out of a country than comes in, the country is experiencing
A) a negative balance of payments
B) economic stagnation
C) hyperinflation
D) a trade surplus

Question 4

A financial document issued by a bank guaranteeing payment is called a
A) commercial invoice
B) bill of lading
C) warranty of title
D) letter of credit

Question 5

When an international company uses the cash in advance strategy,
A) a formal, written contract is not needed
B) a buyer must pay in cash before receiving the product
C) most risks are shifted to the seller
D) all of the above are true

Question 6

Which of the following is probably the MOST elastic product?
A) a cup of Starbucks coffee
B) a meal at the fanciest restaurant in New York City
C) a BMW automobile
D) ice cream

Question 7

Using this type of pricing strategy, a company sets a low price compared to competitors.
A) prestige pricing
B) floor pricing
C) penetration pricing
D) market pricing

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Money owed by the federal government is called the:

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